FinancialForce.com Completes the CRM to Finance Cycle with Winter ’11

San Mateo, CA., December 01, 2010: FinancialForce.com, the global leader in online cloud accounting solutions built natively on the Force.com platform from salesforce.com, today announced Winter ’11, the 5th generation release of FinancialForce Accounting. As well as significant user enhancements, the release delivers new capabilities for Sales Ordering and the Quote to Cash process, making the combined FinancialForce.com and salesforce.com applications the first, and only end-to-end CRM to Accounting solution available on the Force.com platform.
 
Winter ’11 is designed to deliver an enhanced user experience including advancements in reporting while other new features have been added to make the transition from Sage and QuickBooks easier for smaller companies. FinancialForce.com has also added a new Sales Order application that is completely embedded and initiated from within Salesforce CRM’s Opportunity and Quote functions.

Using this new facility, sales orders can be created from an opportunity or quote in a single click. High volume organizations can produce orders automatically in the background, benefiting from a “no touch” order processing environment, eliminating rekeying or the need for a detached order system between the CRM and finance functions. After a sales order is approved, users can instantly create an invoice from the order and produce the associated accounting entries by using FinancialForce Billing. The end result is a seamless process that completes the Opportunity to Cash or Quote to Cash cycles all on the same cloud platform.

“Quote to cash is a fundamental process in any organization,” said Lucy Mills, Partner and Product Manager, Nimbus. “At Nimbus we needed to streamline our processes. With FinancialForce Accounting Winter ’11, our users can seamlessly drive sales opportunities to recognized revenue, connecting sales and finance and removing discrepancies while retaining our core vision – One Nimbus, One strategy, One platform.”

In addition to filling the process gap between disparate systems, FinancialForce Winter ’11 connects information and the people involved with the Quote to Cash cycle across departmental boundaries. This customer-centric approach presents finance teams with an iron clad audit trail that extends from the balances in the General Ledger all the way back into Salesforce CRM opportunities, including a view of customer quote activity. Conversely, it provides customer facing employees with a complete view of the financial activity from within Salesforce CRM, so they can understand the customer’s current credit status and payment history, enabling them to avoid sales to bad payers and assist in collecting past due accounts.

“Cloud computing is about more than just cheaper and faster software, it can make it much easier to integrate processes that cross departments and share information” said Robert Kugel,  senior vice president, Ventana Research.  “FinancialForce Winter ’11 provides the next step that enables sales and finance teams to align their efforts to help companies operate more effectively and maximize the value of every customer order.”

“Customer orders are the lifeblood of any business, so it is surprising how many companies struggle to perform this efficiently and accurately,” said Jeremy Roche, President and CEO, FinancialForce.com. “More than ever, every customer order counts, and the more efficient companies are in responding to demand, the bigger the benefits. Our customers will enjoy lower transaction and administrative costs, more accurate billing, faster cash collections and higher customer satisfaction.”

FinancialForce.com delivers three releases every year, ensuring all customers benefit from the latest cloud accounting technology to manage their finance functions. The next phase of development will focus on the contract management process.

FinancialForce Accounting Winter ’11 and Sales Orders will be available from the Salesforce.com AppExchange. FinancialForce Sales Orders can be easily self-implemented using a specially designed QuickStart wizard, so customers can start benefiting from this new functionality in 30 minutes or less from initial installation to entering sales orders and inquiries.

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About FinancialForce.com

FinancialForce Accounting is an online cloud accounting solution built natively on the Force.com platform from salesforce.com. Based on 30 years of financial application development, it allows finance teams of organizations using Salesforce CRM to truly ‘Speak Salesforce,’ dramatically simplifying processes like invoicing, cash collection and customer service. And FinancialForce Accounting’s real-time, international financials solution fully leverages the native integration with Salesforce CRM, providing up to the minute market knowledge and collaboration at the speed of social networking.

To learn more please visit www.FinancialForce.com.

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